March 21, 2024
The City has released a Request for Proposals (RFP) for a qualified organization or partner organizations to provide small business lending and coaching as the lead of the City’s Opportunity Fund. The goal of the Opportunity Fund is to empower local small businesses to participate in community and economic development where access to capital would otherwise be a barrier to entry.
“As part of our mission to deliver services that empower everyone to thrive, the City invests in our local small businesses and the many opportunities that they create,” said Mayor James Mueller. “This new Opportunity Fund will address financing barriers through loans and provide business coaching to help our local small businesses grow and thrive.”
The Opportunity Fund is designed to be inclusive and expansive by enabling a diverse range of businesses to scale up and will provide business coaching and facilitate access to capital at below-market interest rates to local small businesses and entrepreneurs.
Interested organizations have until May 21, 2024, at 11:59 p.m. EDT to submit their proposals to the City through the RFP. The City will host a webinar on April 16 at 11:00 a.m. EDT to provide further information and address questions about the RFP. Interested parties can view the RFP and register for the webinar at southbendin.gov/community-investment.